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Thursday, November 14, 2024

Home Business Bitcoin dips to $29,848 as cryptos bear fallout of Terra collapse

Bitcoin dips to $29,848 as cryptos bear fallout of Terra collapse

by News desk
May 19, 2022
in Business

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The cryptocurrency market remained bearish on Wednesday as the fallout over a collapsed stablecoin TerraUSD continues to keep sentiment in check, with market capitalisation losing 2.1 percent to reach $1.34 trillion.

The largest cryptocurrency Bitcoin’s (BTC) price slipped 1.9 percent to $29,848. With this decrease in price, the market capitalisation of the biggest crypto has reached $569 billion.

Bitcoin has shed 3.8 percent of its value over the last seven days. Following Monday’s drop to $29,000, Bitcoin reacted well and reclaimed the coveted $30,000 line. —TLTP